Update in Home Security Camera Industry
Advances in facial recognition and mobile connection are quickly changing the home camera system. New startups are filling gaps in that traditional home camera installation companies have missed.
Securing your home and personal property is becoming more necessary with the rise of technological security threats. The home camera industry has expanded year over year with new startups entering the space and making strides in mobile integration and facial recognition. New demographics are being captured, bringing renters and lower income homeowners into the home security space. Self-installation is on the rise, with the internet of things becoming a big factor in the shifting home security industry.
According to Next Market home installation security companies have largely ignored renters and lower income consumers. Considering crime rates in inner cities, home security systems are often more necessary for this demographic. New solutions such as self-installable home security cameras are an affordable and effective way for users to monitor their homes and deter criminal activity.
SimpliSafe, a DIY home security system sells for around $300 without binding contracts or service fees. Sequoia Capital, a consulting/investment firm invested $57 million in SimpliSafe in 2014. This investment came after Google’s $3.2 billion acquisition of Nest Labs and Khosla Ventures $10 million investment in Canary, another high-tech home security camera system, according to Tech Crunch’s report.
Since 2014, these investments have led to strides in research and development, adding new features and versions to these companies’ product line. Nest is about to launch a new indoor camera with 4k sensors, 12x digital zoom, and face detection, according to a recent CNN article. The camera will be able to detect faces from far away, track specific people, and send updates to users’ mobile devices in real time.
These high-tech, affordable solutions are quickly changing the home security game. In conjunction with physical building security, guards, and doormen, home security cameras add another layer of defense and deterrence. We expect to see an expanding database of criminal faces that will be accessed not just by law enforcement but also by private home camera systems. With growing levels of monitoring and tracking, criminals will be more easily assessed and caught.